Seasonal Business Opportunities
In the bible, it is stated in Ecclesiastes 3:1 that ‘There is a time for everything, and a season for every activity under heaven.’
This bible verse is so true for seasonal business opportunities.
We often see many businesses that ride on different festivals for a big boost in their businesses.
There are really lots of festivals like Chinese New Year, Hari Raya Puasa, Vesak Day, Christmas and many more.
Know the festival
It is important for the different businesses to know each festival well before embarking on different promotions and discounts to attract customers.
Just like Chinese New Year. It is an important festival of the Chinese.
During Chinese New Year, it is very common for Chinese to buy new clothes especially red.
Red is an auspicious colour that can bring good luck.
Just like the photograph below that I had taken from one of the shops in the shopping mall.
The above photograph was taken by @fun2learn
Everywhere I go, I see different promotions for the Chinese New Year since it would be coming in about a week.
Research on different festivals and their features play an important for a successful implementation of business sales.
Buying extravaganzas
During the Christmas season, shops would start to sell many different products as gifts since most owners know that most people would need to buy Christmas gifts.
There are also many food items like turkeys that shops would want to stock up early for a better profit.
During Christmas season, we can see that everyone is rushing to buy and often may even pay higher price to get the item needed when the stock is limited.
Since there is a high demand, those shops that store up more would stand to gain more.
Many businesses also hit really hard on the desire of our children.
They know that most parents would not want to disappoint them.
By manipulating the desire of children, many children products can be sold effectively.
Downside
There is always risk in any business.
The fact that Chinese New Year and other festivals are only within a short period so after the season, many items may not be able to sell off easily.
Businessmen must make good calculated risk to ensure there is enough profit to cover the cost.
We often see Post-Christmas Sales where many shops are trying to clear most of their seasonal items before no one wants them.
Strategic plans to deal with the leftover stock is therefore crucial.
In conclusion
Those who are in the seasonal businesses would often need to consider with foresight of the amount of demand before rushing into stocking up from suppliers.
Overstock can be a hinder to space when new stock is needed to be stored for another festival event.
Huge discounts are often given to ensure most of the seasonal products can be sold in larger quantity and increased its popularity.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that. All images and pictures were taken from google images that are free from copyright under labelled for reuse.
This article was first published on my blog at Whaleshares.
Posted from my blog with SteemPress : http://fun2learn.vornix.blog/2019/01/25/seasonal-business-opportunities/